With the imminent demise of third party cookies many companies will be faced with dramatic changes to their data asset and marketing operations. Third party systems and infrastructure will be forced into redundancy as businesses look for alternatives to collect, manage and measure customer data.
The first thing to make clear in transitioning into the new age of data is: ‘the sooner the better’. By transitioning away from your old third party systems you’ve taken the first step in preparing for the deprecation of third party cookies and setting yourself ahead of those who are reluctant to change.
In terms of which direction, you take, that’s simple. With the removal of third party cookies, comes the rise of first party data systems. By making the change to first party systems today (pre cookie deprecation), you will be able to collect data across browsers that have placed restrictions and blocks on third party cookies. Since first party systems live on your domain all collected data is secured from third party entities looking to share information for their own commercial benefit, minimising privacy risks for your customers. Furthermore, in being the sole owner of that collected data you claim an advantage over competitors as that data is now unique to you. Additionally, first party systems are capable of producing larger quantities of far more accurate data.
With the decision to move into first party data systems comes the question of ‘how does one achieve this?’ We recommend going directly to a first party system provider, they are experts in this field and can set you up as quickly and cost effectively as possible. However, there are alternative measures to attain a first party solution.
What alternatives are available on the market today?
There are three key methods in which a company can deal with the third party crisis without going to a first party asset provider. Each solution provides unique advantages over one and other, but careful consideration is advised as they are each fitted with limitations that could ultimately have an adverse effect on your business' data operations.
Build and operate in-house
Funding and manufacturing a first party asset yourself might seem ideal as it ensures maximum control of your data, besides if you want something done correctly you might as well do it yourself, right? Well, not really. The first hurdle to overcome is the heavy investment, of both time and money, into creating an asset you have minimal experience in building. The lack of in-house expertise and internal resources is your second hurdle to jump. Thirdly, vendor review and selection are both complex and time consuming, setting you well behind your competitors who will have already had their first party data asset built and operating.
Media agency managed
In asking your agency to handle the creation of a first party solution you will be taking away the hassle of doing it yourself, saving you an immense amount of time. Furthermore, first party data capture and usage has become one of the key offerings of many of the major networked media agencies. However, careful consideration into how and where agencies store and utilise your first party data is advised should you employ this option. It is not an uncommon practice for a media agency to pour client’s data into syndicated data sets, combining it with the data of other clients. They ultimately package this combined data and sell it as audiences to brands willing to pay for reach into highly targeted data segments. Effectively you are paying media agencies to profit off the commercialisation of your data while removing its unique value that could have given you an advantage over competitors had it remained exclusive to you.
All in one walled garden
Alternatively, you could tip all your data into a walled garden and relieve yourself of the trouble of having any direct involvement in managing first party systems, while having access to all the AdTech services provided by platforms like Google and Facebook. However, in doing that you will be required to upload all proprietary offline data, thereby giving up ownership and control of your data.
This allows the walled garden to reap the benefits of data commercialisation, eliminating the competitive advantage of having first party data, as it will no longer be unique to you. Furthermore, the walled garden solution creates silos in your system as your first party functions will be disconnected having been split across separate platforms. Finally, this approach can create a conflict of interest across the digital supply chain where the hosting walled garden can take advantage of both the advertiser and publisher in having complete control of data, this will incur hidden costs and allow the walled garden to create a monopoly in the industry – something already achieved by Google today.
The solution that solves all
In avoiding these alternative first party models you are left with one real option – have a first party data provider build this system for you. This model is the most effective as it doesn’t face the barriers experienced with in-house, agency, or walled garden solutions. By going directly to a first party platform provider you’ll be blessed with the expertise and ‘know-how’ in setting up a first party data asset, without the costs incurred of creating it yourself, all while retaining ownership and control of your data.
There is a plethora of first party solutions available in the market today, and though they may provide you with a first party data asset, they won’t solve all the problems experienced in the third party era. You need to be selective in which solution you choose to ensure you no longer fall victim to data leaks and commercialisation of your data.
The Crystal Box founders are experts in the field of first party data systems, having spread their expertise across a number of top 100 ASX listed companies, helping bring on the age of first party data in Australia. Our solution eases you out of the third party methodology, bringing you into the future of data collection, management, and measurement.
Not only does our solution build your first party system, permanently moving you away from third party processes, but we secure your data and give you complete control of every insight you collect. No longer will your valuable data experience leaks, nor will external entities have the power to commercialise your customer data. This is because our solution empowers you to build your own walled garden. In doing so you close off your system from the view and use of external media platforms. Your supply chain will remain internal to your operations, only ever using the resources of players like Google and Facebook to your advantage. Your data will be unique to you, with all of it available to be utilised as you see fit.
Our first party data system is bolstered by our proprietary AI technology, which takes the manpower out of data analytics in compiling raw data points, enriching your insights and building powerful customer knowledge for you to use.
How the Crystal Box solution compare to alternative measures
The Crystal Box solution provides all the benefits of alternative measures, without the costs that come with them.
Compared to in-house development you’ll have faster development of your new data asset at a fraction of the cost, while retaining ownership and control of your data as we house it in your environment. Furthermore, as our solution is a ‘bolt on’ to your existing systems, no new technology, tools, skills or retraining is required.
Versus the agency solution, you will be empowering your agency to stick with their core process while we implement our expertise in producing your data asset. The agency won’t have freedom to use the data without having to go through your system, ensuring control remains with you, which opens up the door for accurate measurement on agency operations. In terms of all-in-one walled gardens, your data will not be locked inside their systems, liberating it for a wide range of new use cases, while allowing you the luxury to safely use their inventory, audiences, and services to maximise your advertising effectiveness without the security risks.
*Leaked data is the phenomenon of losing/not receiving entire data sets as third party entities have control over your data collection systems.
By making the change today you will start building your first party data asset, ensuring a smooth transition away from third party cookies when the deprecation happens in 2023.
Learn more about how the Crystal Box solution can transition you into the future while giving you an advantage over competitors!